The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1887-05-20

Section thirteen requires the County
Commissioners or Board of Revision
of any county upon obtaining evidence
of the existence of mortgages, judg-
ments or other obligations within their
respective counties owned by persons
or corporations nonresident or not
having principal Office within the
county where the evidences of mort.
cages or judgments exist, to transmit
a record Of the same to the County
Commissioners or Board OF Revision
of this city or county in which said
owners reside or have their principal
Office, as well as certificate of all
such mortgages or obligations that are
satisfied of record.
Section fourteen directs the County
Commissioners or Boards of Revision
to furnish statements TO the Assessors
of the townships aud wards of their re.
spective cities or counties at or before
The time of making the annual and ,ri.
eunial assessments, showing the mort
cages and other obligations of record
owned and held by the taxable residents
of each township and ward.
Section fifteen direcls the Assessors
to compare the aforesaid statements
with the personal return made under
oath by each taxable, and if the obliga-
tions of record shall exceed the amount
set forth in the personal return to note
the fact and make return of the same
to the Commissioners or Board of
Revision OF the proper city or county.
Section sixteen makes it the duty of
the County Commissioners or Boa,d of
Revision in all cases where taxable
persons or corporations return less
amount Of money at interest than ap-
pears upon the records to raise the
valuation to correspond with the record
and notify the persons interested of
the increase, together with the time
and place at which appeals will be
heard.
Section seventeen makes any failure
on the part of Commissioners, Boards
of Revision, Assessors, Recorders of
Deeds, Prothonotaries and Clerks Of
Courts to carry out the foregoing pro.
visions misdem amor punishable by a
fine OF not less than five hundred dol
lars.
Section eighteen directs the Auditor
General to furnish County Commits
sioners and Boards of Revision with
the necessary books, blanks and pap
ers to carry this act into effect.
Section nineteen requires the taxes
imposed under the first section of this
act to be paid into the State Treasury
on or before the second Monday of
cash year.
Section twenty requires each national
bank within the Commonwealth to
make report in writing on the first
day of March each year of the full
number of shares of stock issued by
said bank and the actual value, upon
which they shall be required to pay a
tax of three mills, under penalty of an
additional tax of so per cent. if false
or fraudulent report is furnished.
Section twenty-one requires each
limited partnership, bank or corpora
ton hereafter organized under any law
of this Commonwealth or any other
State and doing business in this Com
monwealth to furnish the Auditor Gen
eral with statement showing the
name of the institution, date of incor-
poration, place of business, postoffice
address, the names of the president,
chairman, secretary and treasurer or
cashier, the amount of capital author
lied by the charter and the amount of
capital paid into the treasury. 1t also
requires every limited partnership, bank
or corporation now existing to furnish
a similar statement within ninety days
after the passage of this act under a
penalty of five hundred dollars for
neg slect so to do.
Section twenty-five provides for an
assessment of corporation or fran
chise tax upon the capital stock of
all limited partnerships and corpora
tions, except banks and foreign insur-
ance companies, which assessment shall
be made annually upon report made
by such partnerships or companies in
NONculDcT Vi tdCH yedT.
Section twenty three affixes penalties
for false or fraudulent reports or fail
ure to make the reports required by
the preceding section.
Section twenty-four fixes the cor
poration tax at one-half mill for every
one per cent. of dividend declared,
where the dividends amount to five
per cent. or more, and three mills upon
each dollar of valuation where no div
idends are declared or where the divi-
dends are less than five per cent This
section also exempts from taxation I'M
der the first section of this act SO
much of the personal property of any
corporation as actually represents it's
paid IN capital.
Section twenty-five levies tax of
three per cent upon the net earnings
of private bankers and brokers, unin-
corporated banking aud savings insti-
tutions and incorporated companies
not subject to taxation under the twen-
ty-fourth section.
Section twenty-six lays a tax of
eight mills upon the gross receipts of
all railway, canal, pipe line, conduit,
steamboat, slackwater navigation,
street passenger railway, telegraph or
telephone, express, natural gas, electric
light and palace or sleeping car COM
panies.
Section twenty-seven levies similar
tax upon the gross premiums of all
State insurance companies, except NUT
ual beneficial associations, and a tax
of one and half per cent. upon the
gross premiums of all foreign insurance
companies doing business within this
Commonwealth.
Section twenty-eight assigns one
half the corporation tax until 1898 to
the sinking fund of the State, the other
half going to the general fund.
Section twenty nine authorizes the
Auditor General and State Treasurer
or any agent appointed by them to eI-
anime the books and papers of all COR
porations, institutions, companies or
partnerships taxable under this act for
the purpose of verifying the accur acy
of Their returns.
Section thirty empowers the Au.
ditor General and State Treasurer